Partial Relinquishment Report Exploration Licence 32370 for the period 13 August 2020 to 27 August 2024

Abstract

This Partial Relinquishment Report describes exploration activities conducted over the relinquished portion of EL 32370 over the duration of tenure from initial grant on 13 August 2020 to partial relinquishment on 27 August 2024. EL 32370 is referred to as the Kulgera West title, and lies approximately 310 km southwest of Alice Springs. The title covers an area of aeolian desert dune sand containing a large but low grade ilmenite and magnetite heavy mineral sand (HMS) accumulation, likely derived from a magnetite-bearing gabbro within the Musgrave Province rocks to the south. This was brought to Inferred Resource status by Globe Mineral Resources International in the last several years. Tivan acquired the title with the intention of assessing the magnitude of the HMS prospect, and whether concentrate material would be amenable to treatment via the Company's TIVAN process. No on-ground exploration was conducted on the relinquished portion of EL 32370 over the life of the title. In 2023 the Company announced that it was now recognising its Speewah (WA) Project as Tivan's flagship project, and was prioritising its development planning as the core mission of the Company. Given the priority focus on Speewah, the Company made the decision to relinquish the northern 100 blocks of EL 32370.